Section 1120. Statement of legislative intent

The legislature hereby finds
  and declares that the shortage of decent affordable housing for  persons
  of  low and moderate income remains significant and must be addressed in
  new and innovative ways; that a particular housing  problem  exists  for
  homeowners  residing  in  manufactured  home parks, wherein there is the
  potential for serious dislocation of families and loss of equity through
  the sale of manufactured  home  parks  to  interests  not  conducive  to
  continuation  of  park  settings  for  these  manufactured  homes;  that
  manufactured home  park  residents  frequently  lack  the  resources  to
  purchase  new  homes or move existing homes; that an innovative and cost
  effective solution to the problem of dislocation  of  manufactured  home
  park  families  is  the  formation  of  park  cooperatives  in which the
  manufactured home park is owned cooperatively by the  manufactured  home
  owners  who  reside  therein;  that  a significant public purpose may be
  served by assisting these homeowners in the  formation  of  manufactured
  home  park  cooperatives,  such purpose being a reduction in the cost of
  safe and sanitary housing for persons of low and moderate  income;  that
  manufactured  home  park  cooperatives should be assisted through public
  support for infrastructure improvements; that it is the  policy  of  the
  state  to  create  such housing cooperative opportunities and to provide
  for the aid, care, and support of the needy in a manner that  encourages
  self-sufficiency and self-determination. The legislature therefore finds
  that  a  program  should  be  established  to  provide  monies  for land
  acquisition by manufactured home park cooperatives and for  improvements
  to the infrastructures of such manufactured home parks.